How are transactions in Investment Accounts supposed to be categorized?

aolafsson Member ✭✭✭
edited January 22 in Investments

I'm coming from Mint, and I always let Mint do the defaults with my investment accounts, and was only particular about categories in my banking accounts. Simplifi has a bunch of things uncategorized for my investment accounts, so I'm trying to figure out how I'm supposed to be categorizing them. Are there any documents that outline category best practices?

I was going to just re-create the category structure Mint had, but that's a little confusing since Simplifi categories need to be either an 'income' or an 'expense' and some investment stuff is neither? Are there best practices for how I should set up categories, and apply them?

Best Answer

  • UrsulaA
    UrsulaA Superuser ✭✭✭✭
    Answer ✓

    Check out the article below regarding investment transactions. Work with these from the investment tab, not the account tab. Also, do not create additional categories on Simplifi for investment transactions. Instead, use the actions that Simplifi provides (examples buy, sell, income dividend)

    Simplifi User Since Nov 2023

    Minter 2014-2023

    Questionable Excel before 2014 to present

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